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Bubbles in hybrid markets: How expectations about algorithmic trading affect human trading.
- Source :
-
Journal of Economic Behavior & Organization . Feb2018, Vol. 146, p248-269. 22p. - Publication Year :
- 2018
-
Abstract
- Bubbles are omnipresent in lab experiments with asset markets. Most of these experiments are conducted in environments with only human traders. Since today's markets are substantially determined by algorithmic trading, we use a laboratory experiment to measure how human trading depends on the expected presence of algorithmic traders. We find that bubbles are clearly smaller when human traders expect algorithmic traders to be present. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 01672681
- Volume :
- 146
- Database :
- Academic Search Index
- Journal :
- Journal of Economic Behavior & Organization
- Publication Type :
- Academic Journal
- Accession number :
- 127761076
- Full Text :
- https://doi.org/10.1016/j.jebo.2017.11.011